December 20, 2021


WASHINGTON, D.C.— U.S.-Japan Business Council (USJBC) Chairman Doug Peterson, and President and Chief Executive Officer of S&P Global, issued the following statement after it was announced that the United States and Japan are beginning consultations to address global steel and aluminum overcapacity and U.S. tariffs on Japan’s steel and aluminum imports under Section 232.

“The U.S.-Japan Business Council welcomes the agreement between the United States and Japan to start consultations on steel and aluminum overcapacity and urges the U.S. government to swiftly rescind the Section 232 tariffs on Japan. Doing so will avert further harm to American manufacturers already suffering from soaring steel prices and shortages and, just as importantly, will enhance the administration’s ability to work with Japan to address shared concerns.

“The U.S.-Japan Business Council has been steadfastly opposed to the Section 232 tariffs from day one, given the significant negative economic impact felt here in the United States by both industry and consumers, the integrated automotive industry and its global supply chain, and the broader U.S. and Japanese economies.

“We are encouraged by Secretary of Commerce Gina Raimondo and U.S. Trade Representative Katherine Tai’s recent fruitful visits to Japan to deepen the bilateral commercial relationship. The swift removal of these Section 232 tariffs will allow our countries to refocus on important issues of mutual interest, particularly related to economic security, supply chains, and the clean energy transition. The U.S.-Japan Business Council looks forward to continuing to work with both the U.S. and Japanese governments to advocate for a mutually beneficial economic relationship.”

About the U.S. Chamber of Commerce

The U.S. Chamber of Commerce is the world’s largest business organization representing companies of all sizes across every sector of the economy. Our members range from the small businesses and local chambers of commerce that line the Main Streets of America to leading industry associations and large corporations. They all share one thing: They count on the U.S. Chamber to be their voice in Washington, across the country, and around the world. For more than 100 years, we have advocated for pro-business policies that help businesses create jobs and grow our economy.

About the U.S.-Japan Business Council

Established in 1971, the U.S.-Japan Business Council at the U.S. Chamber of Commerce is a Washington, D.C.-based business association whose mission is to advance U.S. business interests in Japan and promote stronger economic ties between the United States and Japan. USJBC member companies collectively account for a substantial share of overall U.S. economic activity with Japan, and place high priority on doing business in Japan and helping forge the most cooperative and mutually beneficial economic relationship possible between the two countries.